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Due diligence of BSO reduces the risk of dealing with high-risk profile tenants as well as keeps the client away from harmful situations
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A property handover is the process of transferring ownership of a property from the seller to the buyer. This typically occurs at the end of the real estate transaction, after the buyer has paid the purchase price and any relevant fees or taxes.
Property snagging, also known as defect identification, is the process of identifying and documenting any defects or deficiencies in a newly-built property. In Dubai, property snagging is typically carried out by a professional snagging company or individual, who will inspect the property and compile a report detailing any issues that need to be addressed by the builder or developer.
The steps involved in a property handover in Dubai can vary depending on the specific details of the transaction. However, some common steps include:
Completing the handover process, which typically involves a physical inspection of the property to ensure that it is in good condition and meets the terms of the sale and purchase agreement
The main purpose of property snagging is to ensure that newly-constructed properties are of high quality and meet the standards set by the Dubai government and the Dubai Real Estate Regulatory Authority (RERA). By identifying and addressing any defects or deficiencies before the property is handed over to the owner, property snagging helps to ensure that the owner is satisfied with the quality of their new property.
Yes, there are several documents that may be required for a property handover in Dubai. These can include the sale and purchase agreement, the title deeds, and any relevant clearance or transfer documents from the DLD. It is important to carefully review and understand all relevant documents before completing the handover process.
In Dubai, property snagging is typically carried out by a professional snagging company or individual who has experience in identifying and documenting defects in newly-constructed properties. These professionals are typically hired by the property owner or their agent.
A property snagging report typically includes a detailed list of all defects and deficiencies identified during the inspection, along with photographs or other visual evidence of the issues. The report should also include recommendations for how the defects should be addressed, as well as an estimated timeline for completion.
Yes, property snagging reports can be used as evidence in legal disputes between property owners and developers or builders. In the event of a dispute, a property snagging report can provide an objective assessment of the property's condition and help to determine whether the builder or developer has fulfilled their obligations in terms of quality and workmanship.
Yes, in some cases a property handover in Dubai can be completed without the buyer being present. However, this typically requires the buyer to provide power of attorney to another individual, who can act on their behalf during the handover process. It is important to carefully review and understand the legal implications of providing power of attorney before proceeding.
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